Podcasts about full time real estate investor

Ever dreamed of becoming a full time real estate investor but don't know where to start? Meet Krysta! She found her path with Freedom Mentor, transforming her life by mastering creative investing and changing her family's future—discover her story in this interview.

Met Stella, a Mom with a dream, to build a gym for kids. She once was in the Armed Forces, and worked for the IRS, she starting sending the unique 'Yellow Letter' - and is now has earned approximately 300K as a Full Time Real Estate Investor. Listen to Olivia, host of Houses Flipping People interview Stella on her journey. Find out More at: https://housesflippingpeople.com/HFP Sponsor: Snap a Picture - Bank a Check - Flip a House!!! Revolutionary house flipping APP does exactly that!! Now even a rookie can FLIP like a pro.Learn More: https://snapflipbank.com/?leadsource=...

Matt is a retired corporate executive who transitioned to full time real estate investor. His investment portfolio includes over 2,000 units of multifamily apartments and many other alternative asset classes.Main point:How did you transition from corporate executive to real estate entrepreneur?How does someone get started passively investing in real estate and alternative assets?What are the critical stats you must review before investing in any opportunity?What key lessons have you learned as a savvy investor?Why should you have investments outside of Wall Street?Connect with Matt Hansen:www.HansenHoldings.commatt@hansenholdings.comhttps://www.facebook.com/matthew.hansen.52056https://www.linkedin.com/in/matthewhansen11/http://www.hansenholdings.comPodcast-Better Returns: Invest Like a Pro

What would you do if you suddenly lost your job before reaching financial freedom?   This episode of The Passive Wealth Strategy Show features host Taylor Loht interviewing real estate investor Paul David Thompson. Paul shares his journey to financial freedom through real estate investing, and how he accelerated his path when he unexpectedly lost his high-earning corporate job. He provides advice for busy professionals on getting started with real estate investing while working full-time, and the key steps to take if you find yourself laid off before reaching your financial goals.   Paul is a Full-Time Real Estate Investor, top-selling author, coach, and someone who lends money for real estate projects. He helps both new and experienced investors understand how to make deals in real estate. But his bigger mission is to help people who want to escape boring jobs and find success in their own businesses.     (00:03:05 - 00:05:50) Opening Segment Start small to gain competence and confidence You can make progress while working full-time by putting in extra hours on nights and weekends Attend conferences and seminars to accelerate your real estate education   (00:07:12 - 00:09:56) Dealing with an Unexpected Layoff Have an alternative income stream in case you lose your job Build assets that generate residual income, not just trading time for money Commit fully once you choose real estate as your path   (00:14:00 - 00:16:49) Accelerating Financial Freedom Use extra time to find and close more deals Invest retirement accounts in real estate Earn money from multiple strategies like flipping, rentals, and education   (00:16:49 - 00:19:27) Running Your Real Estate Business Hire experienced professionals to handle important tasks Focus your time on the highest-value activities Get feedback from your team to improve decisions   (00:21:49 - 00:29:26) Tips for Busy Professionals Make use of lunch breaks, nights, and weekends to work on deals Attend conferences and seminars to accelerate learning Get family support for the time commitment Best deal: His first investment Worst deal: Due to overconfidence, Paul overpaid for a property in his hometown. Top lesson learned: Owning equity and creating not linear exchanges of value, but parabolic exchanges of value.   Quotes   "The first deal broke the seal and got me started. It gave me the confidence boost I needed." - Paul David Thompson   "Think exponentially and create parabolic exchanges of value, not linear ones." - Paul David Thompson   Connect with Paul: Website: https://pauldavidthompson.com/   Apply to Invest with Taylor at www.investwithtaylor.com   Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com   Please leave a review and help others escape Wall Street and build wealth on Main Street!

To real estate investors and real estate investing enthusiasts, Brandon Turner is a household name. Not only has he written one of the most successful real estate investing books ever published (The Book on Rental Property Investing), but he also pioneered the real estate podcasting, social media, and blogging space. Funny to think that only a decade or so ago, this massively successful capital raiser, business founder, and CEO was painting rental properties, just trying to quit his soul-sucking job.So how did Brandon do this so quickly, and what's going on in the brain (and under the beard) of one of the most successful real estate investors on the planet? Surprisingly, Brandon doesn't have some secret formula, world-changing analogy, or crystal ball. He simply did what he said he would do—look for deals consistently, make offers whenever he could, and close so he could move on to the next. If this sounds familiar to your situation, but you're struggling to find success, you may find that his system is a little bit different from yours.Brandon gives valuable insight into the “machine-building” he's doing over at Open Door Capital, how he's successfully growing his personal brand, and why real estate investing success should never be a surprise. If you're a new listener to the show, it won't be long before you realize why Brandon Turner was (and still is) one of the most beloved voices for building wealth. In This Episode We Cover:The four levels of entrepreneurialism and how to become the “architect” of your own lifeBuilding a personal brand and finding confidence when creating contentThe skills you need to grow a business and become the CEOThe five-point “viral formula” Brandon has used to raise millions of dollarsWhat it takes to be successful and how to create a machine that will find real estate deals for youAnd So Much More!Links from the ShowBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastGet Your Ticket for BPCon 2022Listen to All Your Favorite BiggerPockets Podcasts in One PlaceSubscribe to The “On The Market” YouTube ChannelHear Our Interview with Jason Drees on Exceeding Your GoalsShould You Quit Your 9-5 Job to Become a Full-Time Real Estate Investor?10 Challenges to Seriously Consider BEFORE Quitting Your Day JobDavid's BiggerPockets ProfileDavid's InstagramDavid's YouTube ChannelAsk David Your Real Estate Investing QuestionRob's YoutubeRob's InstagramRob's TikTokRob's TwitterRob's BiggerPockets ProfileGrab Brandon's FREE MasterclassPurchase Brandon Turner's Best Selling BooksStay Up-to-Date On Your Favorite Real Estate PodcastBiggerPockets Podcast 543 with Gino WickmanBiggerPockets Podcast 584 with Jonathan GreeneBiggerPockets Podcast 264 with Gary VeeDavid's NewsletterBrandon's NewsletterInvest with Open Door CapitalBooks Mentioned in the ShowTraction by Gino WickmanRich Dad Poor Dad by Robert KiyosakiThe Crisis Comfort by Michael EasterLong-Distance Real Estate Investing by David GreeneConnect with BrandonBrandon's BiggerPockets ProfileClick here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-629Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Before you quit your job, you'll need to do a few crucial things. If you haven't done these yet, but are strongly considering leaving your job soon, Henry Washington and Rob Abasolo may advise you to wait it out a bit longer. Quitting your job is a big decision, especially if your family relies on the income that you're bringing in. The good news is, that if you're prepared, you can walk away making much more than you did at your W2. But, if you aren't, you could simply be taking a breather in between jobs, instead of building a life you love and ruling your schedule.Henry and Rob both have eerily similar quitting stories. They both quit during the same month of the same year, making the same salary all while building a real estate investment portfolio in the background. While Henry is more of a multifamily investing man, Rob has taken the short-term rental route to build his wealth. Both men have left the cushy healthcare-provided and retirement-matching lifestyles to build something much bigger not only for themselves but their families and employees.If you've wondered “when should I quit my job” or “is now the right time to go full-time into real estate investing?” then this episode is a prerequisite for you. Henry and Rob go over the four things you need to know BEFORE you quit, things to be aware of as a full-time entrepreneur, how to handle taxes and healthcare, and some actionable tips for when you're finally ready to take the plunge into full-time investing.In This Episode We Cover:Why quitting a high-paying job is probably worth it in the long-runSpousal approval when quitting and why it's mandatory before you start doing your own thingHow much should you have in safety reserves when you quitThe “work-life balance” myth and what a day in the life of an entrepreneur really looks likeChanging how you invest after you say goodbye to consistent incomeMapping out potential scenarios so you know what to expect on the other side of employmentAnd So Much More!Links from the ShowBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastGet Your Ticket for BPCon 2022Listen to All Your Favorite BiggerPockets Podcasts in One PlaceSubscribe to The “On The Market” YouTube ChannelHear Our Interview with Jason Drees on Exceeding Your GoalsShould You Quit Your 9-5 Job to Become a Full-Time Real Estate Investor?10 Challenges to Seriously Consider BEFORE Quitting Your Day JobRob's YoutubeRob's InstagramRob's TikTokRob's TwitterRob's BiggerPockets ProfileHenry's InstagramHenry's BiggerPockets ProfileClick here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-628Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

130: Today I'm talking with John Casmon of Casmon Capital Group.(Show Notes: REtipster.com/130)I first met John a couple of years ago when he had me on his podcast and he struck me as a great guy, very down-to-earth with a lot of knowledge to share from the world of commercial real estate.John is a real estate entrepreneur who has partnered with busy professionals to invest in over $100 million worth of apartments. John also consults active multifamily investors to help them start or grow their businesses. He also hosts the Multifamily Insights podcast and is the co-creator of the Midwest Real Estate Networking Summit.If you've ever wondered when you're ready to go full-time as a real estate investor, John has an interesting story to tell about how he knew it was time to take the leap. He also has some great insights about the importance of networking and how to get connected with the right people who can help you get where you want to go.

Brie Schmidt acquired her First Investment Property in 2011 and left the Corporate World in 2014 when she became a Full Time Real Estate Investor. Brie is the Managing Broker of Second City Real Estate, a Full Service Brokerage Working with new Investors and Seasoned Investors Looking to Expand their Knowledge of the Industry and their Portfolio. In this episode we talked about: Brie's First Steps in Real Estate Switching to Real Estate on a full-time basis 2021 Portfolio Review Capital Deployment The Difference Between Chicago and Milwaukee Property The Active Investment Strategy  Property Management 1031 Exchanges Regulatory Environment from the Landlord-Tenant Prospective Mentorship, Resources and Lessons Learned Useful links: http://www.secondcity-re.com/agent/brie/ Transcriptions: Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. Hey, my name is Jesper galley and you're listening to working capital the real estate podcast. We have a special guest today that is Brie Schmidt. Brie acquired her first investment property in 2011 and left the corporate world in 2014.   When she became a full-time real estate investor is the managing broker of second city real estate, a full service brokerage working with new investors and seasoned investors, looking to expand their knowledge of the industry and their portfolio. I had the special pleasure of being on a panel with Bree in new Orleans at the bigger pockets conference. Bree, how are you doing I'm   Brie (54s): Dan. Great. Thanks. How are you?   Jesse (56s): I'm doing fantastic. Well, I appreciate you coming on the show. I thought just, you know, we were talking before the show. I think it would be really interesting to have you on because we talked a lot, but you know, across that panel and I think it would be a treat for listeners to talk not just about multiple larger units when it comes to multi residential, but to talk about the mid and lower size units or smaller size units and kind of approach it from the perspective of the kind of unique markets that you're in. So maybe to kick us off, why don't you give us a little bit of a, of a background for yourself, for listeners, how you got into real estate?   Brie (1m 35s): So I always say I used to be a normal person. I used to have like a normal job and normal, you know, grind go to the grind kind of goals in life. So I used to work in advertising sales. I used to work in business development and advertising sales never really saw myself doing anything different. You know, it was really had aspirations of being a female CEO one day. So I live in the Chicago market, which we were talking about before show is a somewhat unique market, as far as housing stock.   There's very few cities in this country that have a large portion of two to four unit multi-units. So depending on the neighborhood in Chicago, it can be between 50 and 70% of our housing stock is two to four unit properties. And they're generally about a hundred thousand dollars, less than a single family home. So at the time I was think I was just getting engaged and my fiance and I were talking about, and you're like, what are our life plans? They're like, well, we want to, we want to buy a single family house, but like, we don't need, we don't need that sort of space right now.   So that was our plan was we bought a three unit property. We did a quote-unquote house hack, you know, standard FHA loan. And our plan was, you know, at some point we would need more space. We could, you know, take out a wall, move a staircase. Now we took up two of the three floors. And then at some other point we'll need the other space. We'll just, you know, get and take out a wall and move a staircase. And we'll eventually just take this house and convert it to a single family home. So that was our hundred, like end all be all goal with real estate investing. About three months after we bought the property, my father was diagnosed with a very aggressive form of cancer and he passed away a few months later.   And the thing is the day before he was supposed to retire is when he passed away and we already planned his retirement party and it now became his wake. And it really resonated with me as, because I would just think back of all the things my dad would say, like, when I retire, I'm going to go do this. When I retire, we're going to go to Thailand. You know, I'll retire after you get married or I'll retire when your brother had finished his PhD. And like, he always had all these dreams and goals that he never got to see because he never took action on it.   So here I am, 28 years old, you know, working 60 hours a week, traveling all over the country for somewhere else. And I'm like, this sucks. You know, like this is a terrible life. I've got, you know, 30 plus years till retirement. And I'm going to be in the same position as my dad. You know, I've always wanted to go to Italy. I've always wanted to go do these things and I've done nothing with them because I was too focused on work. So it really changed my perspective on life and decided to reorientate things.   And that's how I got into real estate investing. So you'll, you'll figure out, you know, I just go, I'm a bull in a China shop kind of person. So within the, we bought our first property in 2011, we bought another property in 2012. We did it again in 2013, that 2013 property was a renovation property. We bought like a 1960s house and completely renovated it, you know, pulled cash out. And that is when I found a website called BiggerPockets, which I'm sure you know about.   And it completely changed everything that I was doing. I had never talked with another investor. I had never read a book about investing. I was just kinda, you know, winging it. And it opened up this whole new world of possibilities. So we were sitting on a decent chunk of cash and now I had all these possibilities in front of me and opportunities to learn. So we went full forward ahead. So we looked at other markets to invest in while I love, love, love Chicago.   It's not really a cashflow based market. It's more of a balanced, you know, similar, not as expensive as California, but you know, similar sort of market, New York as well. You're just not going to be retiring off cashflow here. So I, I took some time. I looked at Milwaukee, Kansas city, Indianapolis spent some time in those markets, learning those markets and we decided to invest in Milwaukee. So for you guys that don't know it's about an hour and a half drive, so it's a, you know, easily commutable distance.   So in, let's see, 2015, we bought 10 properties and then 2016, I bought another eight. And then I had partners. I worked with that. I bought another 10 in 2016. So we went quite all in and fast growth trajectory on our acquisitions in those markets. So that's kind of my, and then I started a brokerage firm here in Chicago that was started in 2014. We are the largest boutique brokerage firm working with investors in the Chicago and market. And then I also do the Midwest real estate networking conference where the largest conference in the Midwest for real estate investors.   So everything, when I say I used to be a normal person with normal hobbies, that's what I mean. Like I used to be able to small talk and chit chat about sports or shopping. And now my whole life has become real estate, which is fantastic, but it's all I want to talk about. Cause it's all that meal. It's fun for me. So it was taken over my life in a very, very good way.   Jesse (6m 56s): Yeah. Well the, the energy didn't go out and I noticed when we were, we were at the conference and it's, that's great to hear it. When, when you made that transition, I'm always curious because it's not a dissimilar story where we have guests on that had a quote unquote, normal life or normal job, normal, whatever. And then they move into real estate investing. What, at what point in that kind of, you know, 20 11, 20 12 was the point where you said, okay, let's go in full time and, you know, get, you know, not, not continue to pursue the, the day job.   Brie (7m 26s): So it wasn't like a, it wasn't a pre-planned conscious decision. To be honest, the plan always was I was making great, you know, I had a great salary. I actually loved what I did. I had spent nine years building up my career. I did, it was not something that I wanted to walk away from. So the plan was never for me to leave my job and do real estate full time. Real estate was always going to be a hobby on the side. So it was when we were looking at doing our first set of properties in Milwaukee, that I started to realize like one day it was like, well, I always wanted to make sure that my real estate investing never got in the way of my day job.   And then one day woke up and realized that my day job was getting in the way of my real estate investing show. But I'll tell you this story. I used to travel a lot for work. And we were at the airport, it was a 6:00 AM flight to Atlanta. So it was like five 15 in the morning. I'm staying at the airport with my boss who just had a baby. She was like, I don't know, baby was like four months old. So we were flying down to Atlanta and then we had to get a car and rent a car to go to Columbus, Georgia, which was like a two hour drive for a two hour meeting.   And then drive back to Atlanta to take an airport plane ride home because she had to get home. She had a newborn and I remember sitting in the airport with her at like five 15 in the morning. It's like the butt crack of Dawn. And I get a travel alert on my phone. Like, so when it comes to travel, like Istanbul has been like my number one bucket list place. And there was a flight alert. It was like 400 bucks to go to Istanbul and I'm staring at us and I'm like, oh my God, I'm going to go to Istanbul. And she's like, what one? I'm like, I don't know, there's 400 bucks. Like I'm going to go whatever. And she started going through, like, this was April.   She starts going through my calendar while you can't go this month. Cause you've got this and then you've got this. And then like at the end, she's like by October, like, yeah, you can take a long weekend. And I was like, screw this. Like, this is not the life that I want. Like if I want to go to Istanbul, I want to go to Istanbul. So between it was around the same time that we were mid acquisition with our properties. Like I said, we were buying five properties. I remember calling my commercial lender and being like, Hey, if I quit my job, is that going to affect my ability to acquire more properties?   And as soon as you said, no, I was like, great. I'm giving my notice. And that was it. So it was like a two week, like, Hey, is this gonna, are we going to completely blow ourselves up by doing this? Or no? And the answer was no. So we just did it. I just did it.   Jesse (9m 51s): Yeah. I feel like the, there is this point where people, especially like yourself that have a job that has a good income. There's a beginning stage when you're investing where it is an asset. Obviously the W2 income, T4 in Canada, where, you know, lenders are looking at that. But you do get to a certain point where the assets are become more important than you as the individual. Did you experience?   Brie (10m 14s): Yeah, exactly. But if it wasn't, we were already past the point of doing residential loans. We were already well into like the commercial loan process and that was pretty much what we would be doing moving forward. So as if you don't know, as a us and Canada might be different, you know, those are two very different processes. So it was important for me to know that the commercial under that we were working with, I said, I've done, you know, 23 loans with him. You know, they, they were very strong as far as like backing me personally and financially, as long as he was okay with it, I was ready to go.   So I said like, this was probably mid April. I left my job at, and by the end of June, I was, I quit and done diminish doing real estate full-time ever since.   Jesse (10m 60s): Right on. So what take us up to 2021? What, what does the portfolio look like?   Brie (11m 5s): It's less so, yeah, I've actually sold, I didn't sell anything in 2020, but 20 18, 20 19. I sold some properties about half of my portfolio. So this is also a very interesting story. I was at a conference, very similar, like the bigger pockets conference we were at new Orleans. And I remember the first session, the first morning was an economist. I was actually in Philly with Dave Vanhorn's conference. So this economist is on stage. And he's saying a lot of big words. I don't know, you know, yield curves.   And I don't know, I'm writing things down. Like I should Google that later. So at the end of the conference, the, there was a charity event and the economist had had was the auction off three hours of his time. As for this charity fundraiser. I'm like, this is a perfect opportunity for me to learn, right. What he's talking about. Because while I understand like real estate economics, and while I understand the market economics that I'm in personally, I don't understand on a national or global level, right? How all these other things that are going on are going to affect my market.   That's why I wanted to learn. So I bought his time as part of the auction. And one of the things he did was he wanted to go through my entire portfolio with me five years back, right. Looking at my cashflow, my projections, something that I hadn't done. Like every year I would view my portfolio, right? Like we all do, but I never really like went back and looked at it from a high-level five-year perspective. And he put on all these different calculations and I don't even, I still don't even understand half of them that he did for me. But one of the things that we looked at is what was my three-year average cashflow and my five-year average cashflow, what would I get if I sold the property less than the fees and how does that, that profit relate to annual cashflow?   And I realized quite quickly there was some properties that like, there was just always something, right. There was always something going on with these properties. At the end of the day, if I sold the property, I will be getting like 15 years cashflow up front. I'm like, well, that makes stupid for me to keep these properties. So that has become for the last three years when I'm part of my process is every year I not only review my pre like in my, or what we did and what our numbers were this year.   I also look at my three-year, my five-year. And then since acquisition numbers and reevaluate my portfolio every year, I hire a local realtor in Milwaukee, even though I'm licensed there, I don't, I'm not super active there to do a CMA on my properties. And I rebalance things and I re reallocate things and see, Hey, is this the right? Is it keeping this property, the right thing to do? Or at what point does it make sense for me to sell? So that's, that was a learning experience I took from a med economist. Yeah.   Jesse (13m 54s): Yeah. And it's sometimes it's like, you get that second opinion or you just to get something that, not that you weren't accountable, but kind of high level taking a look at your portfolio. I found a very similar thing happened with me earlier in my career, where there was very similar to you just cap X that would happen. So, so technically your P and L looks good. It looks okay. But really at the end of the day, your cashflow statement is getting hit with these large expenses. And, you know, 1960 would have been a newer pro property. Like one of the first properties we bought was in the early 19 hundreds.   So, you know, stone foundation, knob and tube. And what I was finding was that there were particular properties that were just these cash, like just pits, because you'd just be dumping in. And, you know, even if you average out capital expenditures, if you pick properties that have, you know, a lot of maintenance, you really gotta be careful about how you're smoothing that out over the, the time that you hold. And, you know, sometimes there's an inflection point, whether that's five years in seven years in it's, like you said, it just makes so much more sense to sell it and redeploy somewhere else.   Brie (14m 56s): Absolutely. Yeah. It was a very interesting exercise for me because I always just looked at things. I said, like, I looked at things on an annual basis. I never went back and looked at things from the beginning or the last couple of years and was like, wow, you know, this property is not produce thing. Right. And since I bought it, the values have gone up, like I would make, I had one property. I was going to make like 33 years cashflow I'm like done sell it now. So it's become an interesting exercise.   Jesse (15m 27s): So I want to ask the, the question that so many investors are asking today is w we see it from sellers, but just in general, that number one, you know, where do you, if you do sell a property, where do you even deploy capital? Because the market is so competitive right now, I'm curious, was Chicago, Milwaukee, was this something where you did sell properties in Chicago and then Milwaukee kind of looked like a, a place where you deployed or were you guys doing it at the same time? How did that, how did those two locations come about?   Brie (15m 57s): Yeah. So everything in Chicago, we acquired from 2011 to 2013, and we have not sold any of those properties. Everything in Milwaukee was pretty much 2014 to 2016, and we've sold about half of those properties. And so like, our portfolio was about 31 properties before we started selling anything off. And our newest property was built in 1910. So when you talk about old, like that's just the market, you know, like these, these were older 1890s, 19 hundreds, 19 times are when the properties were generally built.   Jesse (16m 34s): So sorry, the, the property, like the, the move to actually continue investing. When you deploy that capital, wha what are their active investments that you wanted to put them in? Was it, was it the strategy to put it into the properties that you currently have? How did you deal with that once you had that windfall?   Brie (16m 51s): I'll let you know when I figure that out, it's been terrible.   Jesse (16m 56s): Well, we were just talking about this before the show. They're just talking about the inventory issue in all of north America.   Brie (17m 3s): Yeah. I think I'm like, I, this, you know, this may or may not be the right decision, but I really I've gotten this far in my investing career by trusting my gut and nothing. Nothing has been interesting to me since, you know, I've, I've looked at some like multi-family investments, but very few actually piqued my interest, mobile home as well. It's like, I'm dabbling into that stuff, but nothing that's been like, Hey, this, like the doors have opened, I see the light.   This is the path forward. So really put, put the cash in the market and let it sit until I decide what to do with it.   Jesse (17m 43s): Yeah. Fair enough. So, can we talk a little bit, like I said, at the outset, I think investors would get a lot from this, you know, two to five unit world that you live in, especially in these areas. Can you talk a little bit about why an investor would go into say a three, a triplex or a five unit as opposed to 25 30, even if they have the capital to do both   Brie (18m 4s): Same things like for us? Like, so when we, when we went into the Milwaukee market, we bought 18 properties in nine months, 67 units. It was, so we obviously had the capital to buy one big building if we wanted, but chose to do smaller buildings and said for a lot of different reasons, a, like we just talked about, you know, if some of the properties are underperforming, I could sell the ones that are underperforming and keep the ones that are performing without having to sell the entire property as a whole.   So that was part of the reason. And like I said, all of our properties are within like about a mile and a half radius. So it's not completely spread out. Like everything is within less than a 10 minute drive from each other. But one of the main reasons was the properties are like, obviously residential properties are valued differently right. Than commercial. So when I was looking at the, the cap rates and the returns that I could get, they were much higher on two to four unit properties. And they were on these multis. So again, the markets, Chicago and Milwaukee, you know, got the neighborhoods can be between 50 and 70% housing stock, at least two to four unit properties.   They're everywhere you drive down the street. Right? And like half the block is a small apartment buildings. So there's a lot of different options of different inventory. But the thing was when it comes to the small Maltese, at least in my markets, they learned pay is water. Everything else is separate to the tenants, right? So there's no common meters for anything. When you look at insurance, right? I'm getting homeowners insurance that, or my business, you're getting commercial policies. Your insurance rates are much higher than mine.   You generally pay corporate water. I pay residential water. You know, there's, there's like my taxes right. Are different than your taxes. So when I was looking at, you know, up to about, I would say about 20 units that evens out, because when you think about it, if you've got a 15 unit right next to my three unit, and at the same size, same condition, you know, two bedroom apartment, we're getting the same rent, right? Your 15 unit does not offer the amenities like the pool, the, you know, the doorman to increase runs, right? So we're getting the same sort of rent, but your expense ratios are much higher than mine.   So it came out, like I said, once you got to about 20 units, then your expenses ended up being closer to what my expenses were. And then the cap rates even doubt, but like anything on you, it's like Tanya properties. And we see this all the time in Chicago. Cause we get a lot of investors that come to us and say, Hey, you know, we want to get into like these, you know, small midsize. Multi-families like, great, I'll start running some numbers for you, but taking a consideration. I want to show you something else. And I'll show them side by side. Like here's, you know, here's 10 properties that, that are like between 10 and 30 units.   And here's, you know, 10 properties that are two to four unit properties. The cap rate is always higher. So the risk though, is that if the market, the real estate market changes, right, you're subject to comps, not at a Y in the residential world, but financing is also easier as well. We don't have, you know, you can get 30 year fixed on a two to four unit property. You're not getting a five or seven year arm.   Jesse (21m 14s): And in terms of the investors that you typically work with, or even yourself is for the most part, the strategy buy and hold with, with the size   Brie (21m 22s): Of units.   Jesse (21m 25s): And one of the things, you know, you'll hear people say, even at the 20 unit size, in terms of property management, you know, whether, you know, there, you have the economies of scale, how do you handle that?   Brie (21m 36s): It's a great question. So I think it depends on your market, right, Chicago, where at least where I work is more of an AB type market. So even, you know, even clients that I've had that live out of state, a lot of them can self-manage or we have a company here locally. I think they've expanded to, if you go to the markets now called nest egg. So it's not that I got rent, they do all the cart, property management. So like I've been using them since my maintenance, since I was pregnant with my first kid. But like, I don't use them for, I do my own run collection.   I do my own lease ups, but I have that option if I want to, but there's no monthly fee. So, you know, I just had an issue this morning, a tenant reported an issue, you know, it goes through their system, they diagnose it, they take pictures, whatever it is. And then they send me emails saying like, Hey, we think this is going to cost this amount of dollars and this many hours, who do you want to schedule the repair, the tenant, you know, then they call my tenant and they work it out. It's like, I have not been in my properties for repairs and years. And if no one makes a repair requests, I don't get charged anything.   There's no monthly fees. So that sort of product works really well in the Chicago market where, you know, it's not, it's not very high touch, right. Milwaukee on the other hand is more of a C class market is absolutely high-touch. You definitely need full-time property management services, but that's what it was. We grew so quickly said when we came to our, so by the, as after two years, we were at just under a hundred units, that's enough to be important to a property manager.   And in the beginning I had my own in-house team. I tried doing it myself. And it was terrible because you can't have one person. Right. It's what I learned. One of the learning lessons I had, you know, while the, the property manager that I chose was fantastic with my tenants. Right. He lived in the community, he actually owned some of the properties that I bought. My first properties were bought from him, you know, great relationship with the tenants, with service, with service workers, repairs, right. All that was handled, knew nothing about accounting, you know?   And like he would go to him and he'd go deposit like 10 grand in my bank account. And I'd be like, what's the spore? He's like, oh, you know, I've got the receipts in my pocket. I'm like, that's not. So I, like, I still had to do a large portion of the business. So one of the things, you know, property management is a terrible job. I would being a teacher or a property manager, like the two things I would never want to do in life.   But it takes to have a well-rounded property management team requires multiple skills, right. One person can not do it and do it well. So by outsourcing it, you're getting multiple people's positions and skillsets. So that was a life lesson that I learned. I thought I was smart by having my own in-house team. I could control things more. It was 20 times the work. It was terrible.   Jesse (24m 44s): Yeah. I find with property management, the, the companies that have been successful doing it, they, you really have to look at it as a full time full service business, and you need the personalities for that. And I think it was M zero Brian Berger, J Scott, we had on another bigger pockets contributors that I think w their, their point was 70, 75 unit pluses, where, you know, you can, you can afford to have your own super in the building. So like that, you know, even with the property management company, but also having that super in the building, you know, it is at that point where you can scale and you have a point of contact that's in addition to your property management company.   But I'm always curious, because I think, I think in the two to fives, it really is dependent on the market. Like when I got into real estate, I was in student residents. So a lot of them were like these boarding houses that had five tenants, or, you know, five students or eight students where those markets, yeah. You got some people shake the mouse a little, but you also have, what was nice is you actually have this little cottage industry of property management companies, at least back when I was in school that were local, that would manage, you know, houses.   And you had that ability to scale. And like you said, I think you've made a good point there, which I think oftentimes gets overlooked. It's that you're, you're still going to a property management company and still say, Hey, this is 80 units, or this is 40 units. It's just, they're spread out.   Brie (26m 11s): Yeah. It's one of the things I was at, like one of my biggest pieces of advice, when someone tells me, like, I want to invest in Milwaukee, Oregon, or cashflow market. Right. If your plan is to buy a small multi, and then like every year acquire another couple of units, you're going to sink, you know, it's, you're, you're not going to go well for you. So when I was buying our properties in Milwaukee, one of the things I did is after we sold the property, after we bought the property, I call the seller and ask them like, Hey, you know, deals done. Like what, any lessons you can teach me or things I can learn.   The best majority of them were like out of state investors who that was their problem. They only had one or two properties. I remember this one property we bought, we bought it December 1st. The guy told me, he's like, you know, the top unit has been vacant for like three months. We've dropped rent. Like I just can't do it anymore. I'm like, really? Because we bought it, we bought it on a Wednesday. And my property manager posted that night. We had like five showings this week on it. We got it rented out. It's like the property manager can make or break. Absolutely you return. And if you're only, if you've got like three properties or, you know, 10 units with one property manager, you aren't a priority.   The end of the day, I have a hundred units and you have ton. And we both have a vacancy. Gus, who's the priority. It's me. You know, and I don't do it very often, but whenever I have to, if I call my property manager and say, Hey, I need you to stop what you're doing right now and handle this. You better believe they're going to do it. Right. So that's where scale becomes incredibly important.   Jesse (27m 42s): Yeah. And it's nice that there are kind of companies like you mentioned, or even, even locally here where the technology is getting better, where you can actually have, you know, one off properties here and there. I know, not true for Chicago. I know Toronto, we have a huge condo market. Like it basically is our purpose built market. Rental markets are extended, but you know, it's challenging when you only have a few one-offs. Where are you? What do you, what did you think, would you say is the biggest difference between the Chicago and Milwaukee market   Brie (28m 14s): Price point? Number one, you know, Chicago is much more expensive, but again, like each market, whether it be Chicago, Milwaukee, Indianapolis, Kansas city, they all have different, you know, ABC markets. So it just so happens that I got my start in investing in Chicago, which was more of a lead type market. I, my cashflow play is Milwaukee, which is the, I invest in a C class area. You know, I've looked at investing in a, Milwaukee's a B class areas.   And they're very similar returns where I get in Chicago for my air AB class areas here. So it just depends on what your strategy is, you know, at the end of the day. So part of that economist evaluation was also taking into effect or taking into account what my property values were. Right. And what if I were to sell everything, what I would would be at again, like my, my cashflow in Milwaukee per dollar spent is like almost triple what it is in Chicago.   So the end of the day, like, I always assumed like my, my money came from Milwaukee, right? Like it pays my bills at the end of the day. It did it. When you, when you throw in the appreciation I got from Chicago, like that's where I made my money. So I was looking at it again. There's two different strategies. At least I have two different strategies. Chicago is my wealth building. Right. My, my tenants call me once a year. You know, like they're generally very easy. They stay for a few years. It's not a high touch market.   You know, my property is just, I sit and maintain. Right. And then I'll get my money when I sell Milwaukee. On the other hand is the cashflow based market. That's where I bring in my, my monthly paycheck. We'll call it, you know, two totally different strategies. I like having the balance personally, but there's no right or wrong answer. There's no, you know, this is the best option I like having both.   Jesse (30m 12s): Yeah. Yeah. It makes sense. I'm curious. The something that is unavailable to us connects is the 10 31 exchange in the states, the differing of taxes into a likened kind asset for, for any of the listeners that haven't heard us banter about it before, is it, is it applicable to investment properties that are purely residential? Can you use it for you can use it for both. Okay.   Brie (30m 37s): We do again, we do, we do a few times a year, 10 31 exchanges within our brokerage side of the business, but it sucks. I just had one, the, oh, this is terrible situation, terrible. Like, whoa. It was me. The guy sold the million dollar properties, but he was selling, he was selling a property in California, wanted to parlay that funds into Chicago. This was just in like October where our market started to get really slow. Inventory was terrible. He was from the time he was selling, he was then, you know, you've got 45 days and two weeks he was leaving for Germany for a month.   So he's like, listen, you know, we gotta find this property in two weeks. And then we're in Germany. You know, we've got things to do. And it just so happened. Like the day after closing, he called me, like, we actually need to leave for Germany tomorrow. So they were in Germany the whole time. And I was trying to find them a property. But like when we were looking, you know, between like one and 1.5 million, which for a two to four unit property is completely adequate budget for Chicago. We couldn't find anything for him. And he ended up taking the cap, gain tech, but at the end of the day, that's better than buying a bad investment.   Right. So, but it was a, it was a very stressful experience because I'd never met him in person. He was never going to be able to fly to Chicago and see the property. And I had 45 days to put something on a contract for him and try to guess what he wanted and what he would like, you know, like, so it was all like videos and it was just, it's just, it is what it is, but   Jesse (32m 10s): You know, it's our world,   Brie (32m 12s): But is her world   Jesse (32m 14s): Sabrina. I want to talk, but just one more thing before we get to some of the questions we ask every guest, I am just mindful of the time here. We could probably do a, another 45 minutes on just the second half of this story. But before we get there, I'm curious to know the regulatory environment from the landlord tenant board perspective. I have a, you know, we talked a little bit about this before. I have a suspicion that it's very similar to our market, very tenant friendly. How does that compare to Milwaukee?   You know, what's your experience been?   Brie (32m 48s): You could, I don't think you can find two different while California. You can't really find two different markets. And again, they're only an hour and a half drive from each other. So both offers similar returns. I would say, as far as the investment market, but yeah, Chicago has one of the strictest landlord-tenant ordinances in the country. I still invest here. You know, we've got plenty of clients that still invest here. It's really, to me, the landlord tenant ordinance is not, it's not super strict, but you have to know the rules, right. And that's where people get in trouble.   If they don't know the rules, everything is quite reasonable. Right. If you, you know, a general repair, you have 14 days to correct it. That's not an unreasonable request when it comes to like heat, hot water, electricity, like, you know, those sorts of things, you have 48 hours to correct. You know, got not in a reasonable request. It, but our eviction process is beyond terrible. I just had to summer my first eviction ever in Chicago, where, you know, I gave a ton of in 50 days and always I was not renewing his lease.   He started, he understood it. I rented out his unit. Like he let me do showings. And then like the week before it was like, I've got nowhere to go. I'm not leaving. Like, well, that's not really an option. Like I have someone moving in in like five days. So it was what we would consider a hold over tonight, which is still allowed to evict, even though we had the memorandum here, but it took, you know, two months before we even got him served through our court process. Milwaukee on the other hand is very landlord friendly.   I can get, let's see, when I give someone a five day notice the next day I can go and file in court. Typically I get a court date within seven to 10 days. And you go, when you show up to court, they pretty much ask you one question, which is, can you prove the rent you owe to this landlord is not what they say. And they'll start, you know, well, they were a shit landlord and all that. I don't care. She says, you owe this, do you have proof otherwise? And they're like, no, and they'll start ranting. And they're like, okay.   So what do you want to do? They'll go to me like that is, that is the only piece of information that they want to know. Right? They don't, they don't care about the other things. One of the other great things about Milwaukee's market as far as evictions is which we use. It's a tool we use quite often is they have a payment plan process within the court system. So again, a lot of times, you know, they fall behind, right? And they're, they're communicating. It's not like we want to evict them so we can work out a payment plan.   It's a court ordered payment plan. And as soon as they miss one payment, I just go straight to the court, show them document, signed an affidavit, boom. Sheriff comes. So it just there's no, I don't have to go back to court and we don't have to go back to, you know, like starting all of the process over again. It just picks up where we left off. If I were to do a normal eviction. So also a really win-win situation. Right? If they say that they can make these payments and they can get caught up, right. And they do that, then they don't get evicted. But if they fall behind, we have the option of just picking things up and not starting over again.   Milwaukee also has some really great rental assistance programs for tenants that do fall behind as well versus like Chicago. We, you know, we had a ton of apply for rental assistance back in June. I just got it now in December, you know? And luckily if I wasn't so accommodating, right. You know, it was five months of background. Like that's a lot of rent to, to go back, but Milwaukee just moves faster and they are a lot more, there's a lot more options within that market.   Port options or rental assistance options.   Jesse (36m 36s): Does Chicago have rent control?   Brie (36m 38s): No. Okay. Hey.   Jesse (36m 41s): Yeah. The gas. Yeah. W I would have been 50 50 on that. I know it's tenant friendly, but I don't, I didn't know if they went that far.   Brie (36m 52s): So luckily for us, it is part of our state constitution. And once you get out of the state or city of Chicago, it is a very, very red state. So to, to have rent control in Chicago, you have to have this state constitution amended and there's way too many conservatives to allow that to happen. So every year it happened, like every year someone brings it up, right. And every year it goes to the process and every year everyone freaks out about it. And every year it gets stopped quite quickly.   But if it wasn't, if it was up to the actual like cities or counties, we would absolutely have rent control here. But luckily it's on a state level.   Jesse (37m 35s): Yeah. I think if I think Jersey, what is a Jersey, California, New York Mahershala, Washington. I think, I think we're the opposite. If you can find a, like a pretty sure across country, we have some form of rent stabilization. But the big thing for us is that is when we have new tenants, we mark the mark to market the rents. So you kind of reset at market levels, but it's a bit of a different animal. That's great. I, I want to talk or let listeners know where they can go and kind of reach out to you. But before we get there, we've got four questions.   We ask every guest. So if you're ready, I'll, I'll send them over to ya. I agree with something, at least one thing that you know, now in your career, you wish you knew when you first started out,   Brie (38m 17s): Oh gosh, just one thing I can do a whole podcast and all the things, You know, again, I, I'm a big believer in trusting your intuition, right. And figuring out what works for you, what works for me doesn't necessarily work for you. So that takes time. That takes your own learning lessons. But as long as, like you said, I've made obvious mistakes. As long as I was confident in my decision, right. I have no one to blame, but myself and that makes me sleep at night, knowing that like, Hey, this is, this is just a bump in the path and it's going to be a learning lesson down the road.   So my advice would be, you know, really focusing on what you're doing, what your goals are, what your needs are, right. Where, where you can grow personally and then create your own path.   Jesse (39m 10s): Gotcha. Okay. In terms of, if one thing or a few things you could say to new investors, people getting into our industry regarding mentorship, what would that be?   Brie (39m 24s): I'm not a fan of a mentorship thing. You know, I don't think it's a gun. Your mentorship to me is you're, you're learning from someone, but you're trying to replicate what they're doing. Right. And that's not always, right. So I'd like, I get all the time, like, Hey, what, what neighborhoods do you buy in? Cause I want to buy there. I'm like, well, I have haven't I have a Nissan Pathfinder. Do you want to buy my car? Because I have that car. Like, you know, that doesn't mean like what I have my needs and goals are. So it was back to the first thing of, you know, mentorship, you know, isn't, shouldn't be a immediate goal for someone, I think, you know, utilizing sites like bigger pockets, bigger pockets, right?   Learning about your market, listening to podcasts, right? Take a little bit of information from everything that you're hearing and learning and figuring out what works best for you. That's what you need. And then once you're ready, right. Finding a good team, a good agent, right. A good brokerage, good, you know, lenders, lawyers, whatever that will help support you and what your goals are. But you should be the one dictating what your path is. Not someone else telling you what to do.   Jesse (40m 32s): Fair enough. What's a resource or book that you find yourself constantly recommending.   Brie (40m 37s): Oh, getting things done. I love that book. It has completely changed. Like you guys, like not only do I not want a landlord, but I own a brokerage firm. I also plan an event for real estate investors. I'm nine months pregnant and I've got a two year old right there. You know, there's, there's a lot of different things that come at me at different times through the day with so many different moving parts. Right. So having like an organizational prioritizing to do list right.   To, to be effective has really important. So I read the book, maybe I was actually too busy to read the book. So I bought the cliff notes to be perfectly honest, about five years ago. And I went from working, you know, 60 hours a week in my business to probably working 30. I, you know, cut out all the nonsense and really transformed my work-life balance because of that book. Yeah.   Jesse (41m 36s): And I think they've updated. We've had a guest before recommend this and I think they've updated some of the, the concepts. Cause I, I it's, it's like the book for, for like task management and organization. So I think it w I can't remember what the release date, but a lot has changed technologically, but I still love the, how they systematize everything in that book.   Brie (41m 57s): I am so full though. I have to write everything down. Like   Jesse (42m 1s): I remember like the bin you'd have to move things from the bin. Yeah.   Brie (42m 5s): I have to like physically write things down and like physically cross things off of my paper. I can't do like a word, you know, or technology just doesn't work for me. I'm too old.   Jesse (42m 14s): So speaking of Pathfinders, our last question, first car making.   Brie (42m 19s): Oh, Ford Thunderbird. Terrible bomb. Yeah. I was at, it was my dad's car that I bought off him. Right. I'm a terrible driver. Do you understand this? No, I think it was a V6 or a V8, whatever. I crashed it so many times. I'm just a terrible driver. I still am a terrible driver. My husband drives pretty much. He will not, my husband will not let me drive a car if he's in it.   Jesse (42m 48s): I will say this though. It is, it was an upgrade back then from the four tourists, which, which I spent my childhood,   Brie (42m 55s): It was a beast of a car though. You know, I said, I ran over curbs and ran into walls with that card and like never scrape on me, you know, but yeah. Thank you so much for having me on the show.   Jesse (43m 9s): I really appreciate it. If anybody's, you know, in your local area or would like to just reach out to you where, where would be the best place to, to go   Brie (43m 17s): I'm on BiggerPockets almost every single day. Some messaging me on bigger pockets, Brie Schmidt, or you can check out my website. It's a second city spelled out dash R e.com.   Jesse (43m 30s): Okay. We'll send them there. My guest today has been breached brief. Thank you for being part of working   Brie (43m 36s): Capital. Thank you so much.   Jesse (43m 45s): Thank you so much for listening to working capital the real estate podcast. I'm your host, Jesse, for galley. If you liked the episode, head on to iTunes and leave us a five-star review and share on social media, it really helps us out. If you have any questions, feel free to reach out to me on Instagram, Jesse for galley, F R a G a L E, have a good one. Take care.

Avery Carl is a Full-Time Real Estate Investor and Real Estate Agent Based in Florida. She helps Real Estate Investors Gain Knowledge in Order to Be Able to Invest their Money in Short Rentals, and Create More Passive Income. Through Strategic Investment and Short-Term Rental Properties and Maturification? Rental Market She was a Millionaire by 31 years. She Owns Over 24 Properties and is a CEO and Founder of Short Term Rental Shop, a Real Estate Team that Helps Investors Acquire Short-Term Rental Properties in the Most Recession Resistant Markets.  In this episode we talked about: Avery's Bio & Background Short-Term Rental Properties Vacation Rentals and Airbnb Approach in Financing with Short-Term Rentals compared to Multifamily and Single Family Homes Management Approaches Metrics Used For Underwriting Properties Out-of-State Investing, VAT Complexity Avery`s Vision on how the lockdown has Affected the Real Estate Market The Deals Avery is Looking For Currently Dealing with Investors Out of the Country VS Dealing Local Mentorship, Resources and Lessons Learned Useful links: https://theshorttermshop.com https://www.facebook.com/theshorttermshop/ Transcriptions: Speaker 0 (0s): Welcome to the working capital real estate podcast. My name is Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. All right, ladies and gentlemen, my name is Jessica galley and you're listening to working capital. My special guest today is Avery Carl through strategic investing in short-term rental properties and mature vacation rental markets. She was a millionaire by 31 years old. She now owns over 24 properties and is the CEO and founder of short-term rental shop a real estate team that helps investors acquire short-term rental properties in the most recession resistant markets and trains them on the methods that led her out of the corporate rat race and into financial freedom. Avery, how you doing? Speaker 1 (51s): Pretty good. How are you? And actually we're at 96 doors. Now that, that outdated. Sorry. Speaker 0 (57s): I kind of feel like that. That's great. That's good to hear. We were just saying before the show that I was looking through some old emails and it looks like we both spoke at BiggerPockets conference so hard to believe now it's 2019, but you're going to be talking it's this weekend. You're going to be talking on short-term rentals. Speaker 1 (1m 16s): Yes, yes. Again, as will you, but not on short term. So we're, we're doing it again Speaker 0 (1m 21s): Right on. Well, that's great to hear. Well, thanks again for coming on to the show. I think our listeners will get a lot out of this. I really want it to have an episode where we can talk a little bit about your background and how you got into real estate, but also specifically talk a little bit about the short-term rental market for people that, you know, they know what Airbnb is, but perhaps don't really know how people do invest in this market. And you know, also what the impact has been over the last 12 to 24 months in the short-term space. So maybe to kick it off, you could give our listeners a little bit of your background, you know, where you started and, and how you got into real estate, Speaker 1 (1m 59s): Happy to do it. So I started in real estate kind of by accident. So my husband and I moved from New York city to Nashville in 2013. And we both had corporate music, jobs, music business, and we weren't didn't know anything about real estate or real estate investment. We knew we wanted to buy a house to live in because you can't really do that in New York, at least not on the salaries we were on. And so the real estate agent that we had at the time was really trying to direct us to this really fast appreciating hipster area of Nashville called east Nashville. And we said, eh, we are sick of neighbors. We came here from Brooklyn, we moved to Tennessee to be out in the country. So we want to buy something out in the country. So about something out in the country. And we thought, well, you know what, maybe there's something to that fast appreciation. And people are selling their houses two years later for a hundred thousand dollars more. And we decided we wanted to do that, which is not the way to invest by the way. But we thought at the time, well, you know, maybe we can keep this house and maybe buy one more sometime and sell it in. You know, however old our kids are at the time, we didn't have any kids. So when our future kids go to college, we can sell those and pay for their college. And we'll be like so smart and cool and savvy and not have to pay for that. And so we did buy a house in that area. And luckily that was a really, really great investment. We didn't know it at the time that one, the mortgage was 650 bucks a month. We were renting it for 1500 a month. And after we got a few rent checks, we thought, okay, we really want to get into this. We're going to build a business out of this. So then we did all the educating ourselves piece that most people do before they buy a property. And we started reading all the books and listening to every podcast imaginable and we thought, okay, well we have one more down payment left. So what can we buy? That's going to make the most amount of money, the fastest so that we can scale our portfolio as quickly as possible. So we landed on short-term rentals and we didn't want to do it in Nashville rear living at the time because we thought that the regulations in Nashville are crazy. They're changing all the time. It's just not really somewhere. That is a safe place to invest regulation-wise. So we thought, well, where can we go? That it's the normal thing for people to go rent a house that somebody has to own instead of a hotel. So we landed on the smokey mountains, which is a few hours east of Nashville. Everybody goes there and stays in cabins on vacation, long story short, we bought one of those. Again, had no idea what we were doing. We knew we didn't want to pay a property manager, 35 to 40% of our gross income. We knew there was a way to manage it ourselves from three hours away. We just had to figure out what that was. We figured all of that out, you know, lots of stumbling and figuring out it ended up working really well for us scaled that one property to five cabins in the Smokies within about a year and a half, five years later, we've used all of that income to go buy weather more traditional long-term real estate investments. We've got a bunch of single families duplexes. We've got three 12 units and a 26 unit. We also, so of the 96 doors, we have eight of them are short-term rentals. And that's about the gist of it. And I started the short-term shop on our second short-term rental investment because I kind of realized there weren't any agents in that marketplace that could answer our questions about return on investment and remote self-management and how much should this property make. There was nobody who could really answer that. So I became that agent and bridge that gap. And now the short-term shop is in six markets soon to be seven. And we have helped over 4,000 investors buy cashflowing short-term rental assets, Speaker 0 (5m 42s): Right? So in terms of the short, short term rental aspect of things, so you get into this space and only a few years ago, it seemed like there was only one or two players in that space in terms of whether you're using Airbnb or different things to actually rent out the space. But when you're going in to look at at short-term rental properties, what, what type of things are you looking at off the hop in terms of, in terms of, if something qualifies as a good short-term rental, Speaker 1 (6m 8s): The market is going to be the most important thing. So we look for areas we specifically invest in and then also work as agents in areas where that I call mature vacation rental market. So these are areas that people have been coming to stay on vacation and renting cabins, condos, beach houses, rather than hotels for decades and decades. So these are areas that are very safe for that regulations wise. These are areas that the cities and counties figured out how to monetize short-term rentals through a small local occupancy tax decades and decades ago. So the regulations are very established. So we focus on those types of markets rather than Metro markets, just because with Metro markets, there's a lot of industry outside of tourism, which means there's a lot of primary homeowners, also a lot of hotels. So between hotels and then primary homeowners who don't want you coming into their neighborhood and opening up a mini hotel next door to them where they're trying to raise their kids. It just is a recipe for a lot of change in descent dissension. So we try to focus on those regional drivable, true vacation rental markets. Speaker 0 (7m 17s): And in terms of the vacation rental investing, as opposed to just somebody on Airbnb, is there a distinction or do you make a distinction between that? Speaker 1 (7m 27s): I do. Yeah. So a lot of people will I call Airbnb is just there any short-term rental property, anywhere in the country, a vacation rental is going to be a property in one of those vacation markets where pretty much, I would say 90% of the real estate in those markets are short term rentals. Like the smoky mountains in Tennessee, the Emerald coast and Florida, which is destined Panama city beach. I mean, you know, there's tons of areas that, you know, anybody in any of the region, any of the regions of the country can kind of think, oh yeah, that I know like Aspen. So things like that. Speaker 0 (8m 1s): And in terms of, so when you go out to buy these properties on the short term side of things, is there a little bit of a different approach you take in terms of financing, you know, compared to multi-family or even single family homes. Speaker 1 (8m 14s): Yeah. So if you are buying the, one of the cool things about buying short-term rentals is that they are also vacation homes. So if you are buying a vacation home that you plan to rent out, when you're not there, you can get what is called a 10% down, a vacation home, or sometimes it's called a second home loan and 10% down, you know, typically you have to put 20 to 25% down on an investment property, but a property that you plan to vacation in, I think the Fannie Freddie rule right now is 14 days out of the year. You have to stay there. So all of those 14 days you are allowed to rent that out. So you can utilize that 10% down, so lower down payment, lower interest rate, and you can have one per market. So you can have one in Florida, you can have one in Tennessee. So it's a really cool way for people to be able to get in for less money. And then also be able to scale more quickly. Yeah, Speaker 0 (9m 7s): For sure. One thing, I mean, I'm sure people that have looked into this area, whether they're in real estate or not one of the big things, at least for me, has been this idea of management of these properties. Right. You know, for us, when we think of like, longer-term, whether it's commercial or residential management, you have this, these companies that take a certain percentage usually off of gross or effective rent. And this seems like a lot more time intensive in terms of turnover, people coming in and coming out. So how does, how do you approach management and how is it different than say traditional rental properties? Speaker 1 (9m 39s): So I will say for my long-term rentals, every single one of those is with the property manager. That's an entirely different beast property management in a long-term space. Yes, I'm all for it, but in the short term space. So the way that prices are right now, and this is by no means a metric to measure anything with real estate investing. It's just a very loose rule of film, observation that right now, the way prices are typically in the markets that we're in, people are netting after their mortgage, after all their expenses, anywhere between 35 and 45% of their gross. If you have a traditional management company managing this and 35% is the average amount they charge, you might be breaking even, or possibly losing money right out of the gate. So as there have been more self managers coming on the scene, and not most people that are buying short-term rentals nowadays are self managing there's tons and tons of technology to help you do that. The biggest one is a group of platforms called channel managers, and they automate a lot of the process for you. They sync with your cleaners, Google calendar or icon or whatever they may be using and let them know automate the scheduling of the cleanings, automate a lot of the communication for between you and the guests. So you're not having to just cause when I first started, you had to just a question would come in, you'd have to go answer it. And you'd have to answer that same question a hundred times when every single person did that, but now it automatically sends templated messages back so that you're not having to do a lot of that stuff manually. Speaker 0 (11m 16s): Okay. So it seems like they've, they've streamlined quite a bit of it, but that, that seems like a pretty hefty management fee for these short-term short-term companies. Speaker 1 (11m 24s): Yeah. Yeah. So I guess that kind of stems from, you know, back to say 2000 and earlier there weren't, BRBO Airbnb, those weren't in existence just yet. Maybe some form of them were, but they weren't widely used and areas like the ones that I've talked about, there were still real estate there. People were still coming in vacationing to these places, but the owners who owned properties in those markets, if they wanted to put a dent in their expenses at all, they were forced to use these local property managers. So they just found that, Hey, there is nobody but us, so we can charge these exorbitant amounts or they can just, you know, have to pay their own expenses. So I think that just came around from there kind of being a monopoly on that. Speaker 0 (12m 8s): Yeah. So is there, is there a middle ground, like you said, there's these systems in place in, you know, maybe not having a full-time manager, but also not wanting to be there for every call for every issue that somebody has in, in a vacation home. Is there, are there systems where you have something resembling a middle ground between those two? Speaker 1 (12m 25s): What most people do when they have over five properties would be to hire a, a VA, a virtual assistant don't know what that is. We have a VA for ours. There is something in Airbnb called co-hosting where you can hire someone else who owns properties. If you're going to go out of town and you just don't want to be gotten a hold of for a week or two, that you can hire them and it will allow them to log onto your account and, you know, handle all that business for you during that specific time. So there's, there's some ways around it, for sure. Speaker 0 (12m 57s): So talked a little bit about the selection process. It's highly driven by market in terms of the actual, the properties themselves say you've selected the market, you have three or four properties, you're comparing them to each other. What kind of metrics do you use in terms of underwriting these properties? Speaker 1 (13m 14s): So if there, if I'm looking at three properties and they're all the same size and similar amenities and good locations, I use what we at the short term shop called the enemy method. So the enemy method is, and let me back up just a little bit. There are tools you can use. Data-wise like air DNA to see how the properties in that neighborhood have been performing. But what the computer can't tell you about how the performance of the properties are, is the, the different amenities, the intangible items, that data doesn't show you like does one property have a pool and the other one does not have a pool. A is one really, really beautiful and updated. And the other one's kind of falling apart. You can't really tell just from the data. So we use the enemy method, which is, if you're looking at a property, you get on the booking platforms, Airbnb and BRBO, and look at the properties around you, your enemies, and see, okay, this property is about the same size as me. I can improve on this property here. They have bad pictures. This property doesn't have a pool. The one I want to buy has a pool and you can kind of by using the data and the enemy method, figure out where you should be. Speaker 0 (14m 24s): Okay. Right on. And in terms of actual the metrics side of things, cause you do you know, other than short-term rentals, do you use a hard and fast rule in terms of, you know, we're looking for this type of internal rate of return or this type of annual growth rate, or is it more so look at cashflow as, as maybe a percentage of your gross income. Speaker 1 (14m 44s): That's a really good question. So I use gross annual income to, to analyze everything monthly doesn't really work because of seasonality. And it's really difficult to calculate a net number because the success of a property is so dependent on the way it's managed and not necessarily the property itself, but we do look for a minimum of a 15% cash on cash return, really kind of more like 20, but that's kind of, we're looking for, you know, if it's 20 or better, we're buying it if it's 15, but it can be improved, then we're looking at that as well. Speaker 0 (15m 20s): Yeah. And you know what, that's a, it's a good point in terms of the, the seasonality of these rental properties. Are there areas that you won't invest specifically because of the seasonalities regarding weather or is it just more, more so the seasonality of that particular tourist tourism market? Speaker 1 (15m 38s): It just depends. So I own properties in the mountains and I also own several beach properties. And when we bought first bought at the beach coming from a mountain experience, we were a little concerned about the seasonality of a beach market, but we found after our first one that our four bedroom beach property performed really, really similarly on an annual basis to our four bedroom mountain property. But whereas the mountain property made all of its money between probably March and December and just slow down a little bit in January and February, the beach property is between March and October. So you do have those few months at the end of the year where you're just going to be booked here and there, we were really worried about that, but it was kind of a nice little break and on an annual basis, the income was almost the same. So it's like, you get a little break, like a summer break, but you know, over the holidays, Speaker 0 (16m 28s): Like an ice cream shop. Yeah. That's cool. So in terms of the, the, like, given the fact that these are predominantly in vacation areas, so like you said before, most likely the regulatory framework is going to be, you know, it's going to be there or is going to have the ability to have short-term rentals. Is there anything else you would still say to people whether it's HOA or any rules within a building that you would still say, these are the things you got to make sure you check prior to purchasing, just make sure that you can do short-term rentals or other things maybe that, that they wouldn't have thought of. Or are there any tips or advice you'd give on that end? Speaker 1 (17m 4s): Yeah. So after you checked the city and county-wide regulations as a whole, you want to check and make sure that there's not any zonings that don't allow short-term rentals. So even though the markets that we're in are really, really friendly towards short-term rentals, there are still a very few small little geographical areas that they don't allow it to preserve primary home ownership for the people who actually live there. Then you want to check hos because every now and then you're going to find one in a resort area that is specifically for only second homeowners. They do not want any renters so that, so you want to go city and county and then like say inside the city limits zoning, and then you want to go HOA. Speaker 0 (17m 45s): Okay. No, that makes sense. Just because I'm, you know, I'm in the city here, I think to your point of Metro, like whether you're in a city that's popularly nursery, densely populated with apartments or condos, a lot of times the boards or whoever runs them will have something that basically completely prohibits short-term rentals. So it makes sense that if you went for, rather than just Metro rentals, but you're going to actually season markets that expect that, that you'd have lighter regulations there, if any, at all, exactly. Right on. Okay. So Avery, can you talk a little bit about, so you've, you've done short-term rentals. This is part of the business that you have right now, before we get to the shop. I'm just curious, the other properties that you bought, what was that you branching out from short-term rentals or did you buy those assets prior? What, what has that experience been like for you from an investor standpoint? Speaker 1 (18m 36s): Yeah, so I, even though I bought mostly short-term rentals at the beginning of my investing career, it was never the goal to own only short-term rentals. I am not by any means saying that that is the right and only way to do things. Some people do. People ask me all the time. Well, if short-term rentals are so great, why do you have so many long-terms because the goal for me was to generate cashflow quickly so that I could go buy more passive assets, which is exactly what we've done. So whether you want to use that cashflow to go buy more short terms or buy more passive assets, that's totally up to you. And that's the beauty of real estate investing. So for me, the goal was to buy more passive assets and that's what we've done. Speaker 0 (19m 14s): And what would be a, maybe you could talk through a couple of the types of assets that you buy now, you know, the last one or two assets, what, what type of space or those are vertical, are those in? Speaker 1 (19m 27s): So I do not recommend that you do what I'm doing right this second, but this is what we're doing. It's working really well for us. I recommend that you focus on one thing at a time, but we have been buying multi-units in a market in the Midwest. That's working really well for us. So we have some great deal flow going there. And then also we have a market in the Southeast where we focus on value, add single families, maybe duplexes, not a lot of duplexes anymore. So we have both of those trains kind of rolling at the same time. Speaker 0 (19m 56s): Very cool. Now the, the company itself that you started for the short-term rentals, the short-term shop. So is that, is that you're a, you're an agent by trade, is that right? Yes. Speaker 1 (20m 7s): Yes. So we are a real estate agency. We are brokered by exp. I have to say that or else I get in trouble, but I don't do the whole multi-level thing. That's annoying, but we're in six markets right now. So we're in the smoky mountains in Tennessee, the Emerald coast and Florida forgotten coast in Florida, the Disney market in Florida, blue Ridge, Georgia, and Gulf shores, Alabama. We are adding crystal beach, Texas next week. And what we do is we work only with short term rental investors. So we don't even take any other types of clients and for our buyer clients, if you choose to use us as your agents in those markets, we're all very, obviously I train all of my agents to learn how to analyze these things. Most of them are short-term rental investors themselves. But if you choose to use us as your buyer's agents in any of those markets, we have a whole back end training program where we teach you everything that you need to know from getting your Airbnb. And BRBO listing set up to all the automation tools and the tips and the tricks to streamline things all the way down to helping you source your cleaners, handyman vendors, boots on the ground. So if you come to us, not only are we going to get you the house, we are going to make sure that you're successful with it. So that's what we do. Speaker 0 (21m 14s): Very cool in terms of the out of state, you know, or for the Canadians out of province investing. I imagine most of the people that are investing in vacation rentals don't live where their, where their investments are. So in terms of that complexity, how is that dealt with? Is it a non-issue? Is it something you need to put systems in place? What's your experience been with that? Speaker 1 (21m 37s): So for us, we have always done a ton of videos, showings, lots of videos, and you can't, it's true. Like you can't always live in the best place to invest in any certain type of real estate. So if you are going to invest out of state, I do recommend reading David Green's book about out of a long distance real estate investing. That's a really good one because you do have to build a team. You have to vet your team remotely, and you have to make sure that you are working with the right people. When you're, I know a lot of people that listen to a lot of real estate investing podcasts are trying to work with like a hundred agents. You really need to find the agent that knows what they're doing, or at least the top two or three, and not just go work with everybody who responds to you. I see that a lot now, especially as the market has gotten really, really tight that people will, like, I had some money who I sent him an off-market listing that I had, that I w it wasn't listed yet. And he said, oh, no, I think I'm gonna pass on this. And then I put it on the market like a week or two later. And he offered on it with another agent from another town. That's not even in, not even in the market, they didn't even have access to the right MLS. So don't do that because you want to get, you know, work with the top agent or two that work in the space that are going to be working for you in the market that have the most relationships either with past buyers. So people who own things who might be wanting to sell things soon, that's how you will get stuff off market. And also the agents who have the best relationships with all the other agents in the market, because that is also a good source for off-market deals. Speaker 0 (23m 14s): Yeah, for sure. And I'm assuming that your brokerage will also assist know downstream in terms of the investment. And, and by that, I mean, putting them in contact with, with a broker or a mortgage broker for financing of these deals, I'm sure you have some preferred vendors that you deal with in specific areas for these types of properties. Speaker 1 (23m 31s): We do. We actually also just started a mortgage arm called the mortgage shop because we were overwhelming so many different lenders and brokerages. So we just started our own to help our clients. And we focus while can do, you know, regular, if you want to buy a house with us, whatever, but we focus exclusively on in are not explicitly, we're not allowed to, but we focus mainly on investors, especially short-term rental investors with our mortgage products Speaker 0 (24m 2s): In terms of the last 24 months now, which is crazy to think that way, there's obviously been an impact on the economy, on a rental properties in general, hoteling, tourism. What's your experience been like over that period of time, just with, you know, with the pandemic, with lockdowns and have, have you, you know, lessons learned have, have there been things that, you know, perhaps without the pandemic you wouldn't have got into or, or have kind of moved the business towards? Speaker 1 (24m 31s): So I will say that what we thought was going to happen at the beginning of the pandemic was the opposite of what actually happened. So the beginning of the pandemic, when they shut everything down and everyone short-term rental calendars were wiped clean, we thought, oh, crap, there go there short-terms, there it is. It's happened. And after two weeks, when everybody, you know, got off the couch and stop watching tiger king and things opened back up the tourism and the markets that we're in, like people just busted the doors down, everybody was dying to get out of their houses and that our short term side of our business boomed, whereas it was actually our longterm side that we had to worry about with the eviction moratoriums. And that's just not anything that at the beginning of COVID week that never crossed our minds. We just thought, oh, people are going to stop going on vacation. Well, actually the opposite happened. So our short term side of our investments has really, really boomed. And luckily we only had to do two evictions, so it wasn't too bad. And those people were problems well before COVID, but we, we just happened to be in the right place, right time with the short-term rentals and the COVID Speaker 0 (25m 45s): Right on in terms of the market going forward, then, you know, let's say the next one to two years in terms of investing for you. I know you mentioned that you're doing a lot of different things with investing. Is there a specific asset class specific areas that you're you're looking at or that you like? Speaker 1 (26m 1s): So it's just so hard to find deals now that I've, I've got my eye always on the short-term markets that we're in and then the Midwestern market that we're in for the multis and then a few different Southeastern towns that we've invested in over the past few years for the single families and duplexes. It's just so hard to say because a lot of people think, oh my gosh, we're in a bubble, everything's going to the bottom's going to fall out. But then part of me feels that way. But then the other part of me is like, well, there is such a housing shortage because of all of that construction that did not happen between 2008. And now that I don't know how long it's going to take us to get back to equilibrium to where it is, where things more normal, and it's easier to get deals again. And people are able to actually buy things without 10, 15 offers. So it's just really hard to say, I'm, I'm picking things up as long as they make sense. I'm, I'm steadily grabbing what I can just because it does kind of feel like this might not go back down. It might continue to be really difficult for primary homeowners to buy. Let me know. Great example of that first house that I bought in Nashville. I just sold that. I listed it a little bit high because that was 10 31 exchanging I had a hedge fund come in and offer me $40,000 over asking cash. I think, have any other offers? I didn't have multiple offers. There was no reason to offer that much 40,000 cash, no inspection closed it. And that kind of stuff is I think, going to continue to happen in Metro areas like that. And, you know, it's just really hard for the typical home buyer to be able to compete with. Speaker 0 (27m 37s): Absolutely. I mean, we see it just on the commercial side, it's the same situation for at least on the apartment and industrial as well, where, you know, there's, if it's a good property in a good market, you know, you can expect five to 10 on, on bid date, you have five to 10 people competing. I'm sure for, you know, markets that you're around, it's a similar situation in terms of the, so on that, on that end on the brokerage end, is this something that, I mean, when you don't talk to agents or brokers, it's one of those things where if you talk to them about fully being a hundred percent investor, it's always just so easy to continue to be a broker, but you also have the, the shop will you be as hands-on going forward or is the goal to, to pretty much be on kind of the, the ownership or investment side down the road? Speaker 1 (28m 25s): I'll probably stay pretty hands-on with it. It's just, it made such a difference in mine and my husband's lives that we were able to figure out how to do this and how to self-manage. And it's really rewarding because I'm 33, I'm nowhere near being able to retire and just, I mean, I can retire, but my brain cannot retire. I can't just sit around and deteriorate. So it really is rewarding to help other families transition the way we did from being, you know, I, I was making $37,000 a year and we get emails here and there from clients who were like, oh, you know, it allowed one parent to be able to stay home with the kids, or it allowed one person to stop working to take care of their elderly parent. And it's that kind of stuff that it can be a really life-changing thing. You know, two or three short-term rentals is, oh, like over a hundred thousand dollars salary in some cases that somebody might never have achieved, just climbing up the corporate ladder. I mean, I know I'd still be waiting on my $10,000 raise to make $50,000 a year. So it's really rewarding to help other people do that. Speaker 0 (29m 35s): Yeah, for sure. I just curious, you said that one of the properties was 10 31 exchanging. I was just looking on, on TV for those that don't know, that would be a like unkind asset where you sell one asset and you, I can't remember what the amount of time is, but you purchase a likened kind of asset and you defer the taxes just for us Canadians up here. I heard that it is possible. You guys are going to be having, I know there's some, there's some talk about getting rid of the 10 31 exchange. Is that real or is it just more of, you know, just talk, Speaker 1 (30m 4s): I think it's just talk, I think the worst it'll be is that maybe you cannot defer a hundred percent of the taxes. Maybe you can only defer 80 or, or, you know, some other percentage, but yeah, I think that was just something that was big talk during the election. I don't, I just, I don't see that going away. We've had it. I think I'm going to get the year wrong, but I think it's been around in the U S since the twenties or thirties. So it's made it through this many presidents so far think it will probably continue in at least some form or fashion through the next few, hopefully. Speaker 0 (30m 37s): Yeah, it is a it's something that would be, it'd be great to have here because it just, the, the actual frequency of trading happens. I think just that it's a huge benefit. Being able to actually transfer and move out to properties and have somebody new, put more money into properties on that note, I'd say about 55, 60% of our audience is, is Canadian, or it's close to half and half Canadian and us with the balance overseas, in terms of somebody that's looking into buying a vacation rental property, say they come to you, but they live in Vancouver or they live in Montreal. You do, you deal with people investing out of, out of the country into vacation rentals and is the approach different? If so, Speaker 1 (31m 17s): We do, we get a fair amount of overseas. Investors of the financing is a little different because there are very few lenders and brokerages who will work with truly, can't think of the word with Canadians basically, unless you have like a, a green card or a social security number or some specific type of work visa. So we have a few of those, but other than getting past the financing part, it's really very, very similar. Speaker 0 (31m 42s): And would there be a benefit to if you have a partner that is an American or US-based partner in terms of the financing, like my thinking would be, you know, we have a number of investors that will have colleagues or have people that they will invest with better Americans, maybe that's you just organize that through the, you know, the financing aspect happens through an entity maybe that you both create or something to that extent, Speaker 1 (32m 5s): That would definitely be easier because having an American partner would open you up to a lot more options in terms of financing. So if you could form some sort of LLC or entity with them and then do it that way, I think that would probably be the easiest route. Speaker 0 (32m 20s): And as per the usual, a disclaimer, we are not giving any legal or accounting advice, but Avery, we do something a little bit, sorry. We do something at the end of the show with every guests. It's a four questions I want to be mindful of your time. So maybe we could get into that, but we do. I just like for you to just let listeners know if, if they are interested in that aspect, number one, the short term rental vacation rentals through your company, what would be the best route to, to kind of get, get to you? Speaker 1 (32m 55s): Yes, go right to our website, the short-term shop.com. There's a little button right in the middle that says schedule a consultation. That's the best way to do it. Speaker 0 (33m 2s): Okay. Sounds good. And if you're good to go, I'll I'll log these, these questions that, yeah. Okay. Okay. What's something that you know now in your real estate career, you wish you would've known when you first started out. Speaker 1 (33m 16s): Oh, I, I wish I would've known. So when I was 19 20, 21, I was going to university of Texas. I lived in Austin, was bartending, downtown making great money. And a lot of my older friends who were bartending with me were buying these 70, $80,000 houses on the east side of Austin. And at the time I was like, well, if I'm not going to buy something impressive, like my parents' house and why would I buy a house? Why do I want to buy one of these dinky little houses? Well, now those dinky little houses are worth a million dollars. And if I would have just done that and not been a snob about what, what was worth buying that, then I would have had a headstart on, on everything. So I wish I would've done that differently. Speaker 0 (33m 57s): I had a, I had somebody on the show recently said the best time to buy something as a hundred years ago, the next best time is now. So I was like, that's pretty good. Tell that to clients. Okay. Question number two. What is your view on mentorship for people that are older in our industry, or even people getting into our inter industry Speaker 1 (34m 18s): Go for it, especially in short term. I think there are a lot of people you really have to vet your mentors wisely. So what I've seen with short term rentals and Airbnb is, and I've seen my own clients do it. They will buy one or two in a six month period. See all this money come rolling in. We call it green light syndrome. Cause you get a little green button, green light, every time somebody books with you, they start seeing all this money coming in and they realize that they can do it. And look at me, I have no training wheels and I'm driving this thing. And so then they go immediately start some sort of Airbnb academy and want to charge people thousands of dollars to teach them how to do it. When they've only been doing it for three or four months, they haven't even owned the property for a whole year yet. So while I think that mentorship and, you know, taking these online courses can be a really, really great way to learn. Just make sure that you do your research. Don't just run off and pay a thousand bucks for everybody on the internet because not all mentors are created equal. Speaker 0 (35m 15s): Yeah, for sure. A lot of gurus out there. Yeah. Okay. In terms of the, you, you know, you've been on the podcast circuit, are there one or two books or podcasts that are indispensable for you that you'd, you'd recommend to listeners Speaker 1 (35m 31s): Bigger pockets podcast? Of course. And then I mentioned it earlier, but David Green's long distance, real estate investing. I sent it to all my clients to read. So they kind of have a primer on because most of them were buying out of state with us. So he answers a lot of those questions that they ask us. So it's really good. Good reading material. Speaker 0 (35m 50s): Yeah. That's been on my list for a long time. This the long distance one. So yeah, I'll put a link to that as well. Okay. Last, last question. First car, make and model. Speaker 1 (35m 60s): It was a yellow Jeep Wrangler, Speaker 0 (36m 3s): Austin, Texas. How could I have guessed that? Speaker 1 (36m 8s): I have a purple one. Now I have a purple Jeep Wrangler now. Speaker 0 (36m 12s): Yeah. They've come a long way right on. Okay. So you've, you've connected people to where they can reach out to you for anything else in terms of, you know, where you're, where you're talking podcasts, you know, is, is the website, is that okay or other social media that you'd like to plug that people can, can reach out to Speaker 1 (36m 32s): Instagram and Facebook? All of that is posted in both of those places. And Instagram is at the short-term shop and Facebook is slash the short-term shop. Speaker 0 (36m 43s): My guest today has been Avery, Carl Avery. Thanks for being part of working capital. Thank Speaker 1 (36m 48s): You so much for having me. Speaker 0 (36m 57s): Thank you so much for listening to working capital the real estate podcast. I'm your host, Jesse for galley. If you liked the episode, head on to iTunes and leave us a five-star review and share on social media, it really helps us out. If you have any questions, feel free to reach out to me on Instagram, Jesse for galley, F R a G a L E, have a good one. Take care.

For most of our listeners, quitting their jobs and becoming a Full Time Real Estate Investor is the dream and when you’re ready to take that leap you need to make sure you’re completely ready so that you don’t end up back at work for someone else. With that in mind join us today as … Continue reading Episode 41 – How To Make a Full Time Income in 12 Months →

In Episode 123, Tucker covers the latest news in his business, makes a couple of announcements and talks about the topics for this weeks episode. He then makes a quick mention about our podcast sponsor, Iron Bridge Lending, who's the best hard money lender we've ever worked with. Tucker then transitions into the Main Topic where he talks with Elliot Smith from Vancouver WA about making the jump to Full Time Real Estate Investor.  Elliot shares his feelings about it and how he prepared financially, mentally and by building his business to a point where it was a smooth transition.  Tucker then closes out the episode with a great success quote and some final thoughts.  We hope you enjoy this episode and please leave us feedback and reviews!

From Photographer to Full Time Real Estate Investor, John Tesh is Finding his Freedom in real estate today!  Have you ever been nervous about buying an investment property?  John is going to share with us today how he bought one property, then two properties …. and then he bought the Entire Block!  John saw an […]

Ken Corsini is a Full-Time Real Estate Investor in Atlanta, Ga and host of the Deal Farm Podcast. Ken has a business degree from the University of Georgia, a Masters degree from Georgia Tech and has bought and sold over 600 homes in Metro Atlanta over the last several years. He is a national speaker and author and has written numerous articles educating investors on all aspects of real estate investing. He is married with 3 children and currently lives in Woodstock, Ga. Talking PointsHow I got startedTurn-key investingLearning to adapt in changing marketCurrent Business Model (wholesaling, turn-key, retail, new construction)New Projects (lending and partnering) Website: DealFarm.net, Gainvesting.com iTunes: Deal Farm Facebook: Deal Farm

From Corporate America to Full Time Real Estate Investor

From Corporate America to Full Time Real Estate Investor

Full Time Real Estate Investor and Licensed Realtor